Hong Kong's Asia Pacific Land (APL) has acquired the Focus Teleport II office complex in Berlin in a share deal with landlord, listed property firm Aroundtown.
The deal volume was not disclosed, but German paper Thomas Daily put the transaction price at just under €280 mln.
German lender Helaba provided a €166 mln, seven-year loan to the buyer.
Peng Zhang, managing director at APL, said: 'APL sees opportunity in the German market and we are pleased to have completed our second acquisition in the Berlin office market. We are delighted to have Helaba as our finance partner on this transaction and we anticipate further acquisitions.'
Focus Teleport is a multi-tenant office complex completed between 1989 and 1992. It is located on the banks of the Spree river in the Moabit district of the city. The campus consists of six office buildings and includes underground parking. It is almost fully let to companies active in the insurance, technology and IT sectors.
Jan Peter Annecke, head of real estate finance at Helaba, said: 'We are really pleased to be able to assist APL with the financing for this project in Berlin. We see Berlin as an important and still comparatively very stable market with a high dynamic in a positive sense.'
APL is a private company that invests in real estate, renewable energy and private equity transactions. Founded in 1994, the company has offices in Munich, Berlin, across Asia and the US and has completed over $21 bn in transaction volume.
PropertyEU incorrectly stated in an earlier article that APL bought the asset from Allianz Real Estate and Quest Investment Partners. Allianz and Quest purchased Focus Teleport, another building complex on the same site, in 2019 and are still the owners.
